Sponsored
    Follow Us:

Case Law Details

Case Name : Union Bank of India Vs DCIT (ITAT Mumbai)
Related Assessment Year : 2015-16
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

Union Bank of India Vs DCIT (ITAT Mumbai)

Conclusion: Section 115JB (2)(b) inserted by Finance Act, 2012 w.e.f. 1-4-2013, that is, from assessment year 2013-14 onwards, were not applicable to the banks constituted as ‘corresponding new bank’ in terms of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and therefore, it did not apply to Union Bank of India due to non-company status under the Companies Act despite the deeming provision in the Acquisition Act for Income Tax Purposes. Consequently, the tax on book profits (MAT) wer

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
April 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930